Participated · Series C · May 2020

Otonomo operates a cloud-based platform that captures and anonymizes vehicle data so companies can build apps and services for EV management, subscription fueling, parking, mapping, usage-based insurance and emergency response. The platform enforces privacy and security standards and enables GDPR and CCPA-compliant solutions using both personal and aggregate data. Otonomo ingests 2.6 billion data points per day from more than 20 million vehicles and maintains more than 25 partnerships with automakers, fleets and farm and construction manufacturers. Partners named in the article include Daimler, BMW, Mitsubishi Motor Company and Avis Budget Group. Founded in 2015 and based in Israel, the company plans to use new capital to scale operations, improve products and expand into new markets such as South Korea and Japan. To date Otonomo has raised $82 million, with the latest $46 million intended to help it remain competitive and broaden its market reach. Otonomo provides a cloud-based platform that connects automakers' vehicle databases to a marketplace of service providers, enabling monetization of connected-car data without additional in-car hardware. Its customers include insurers, smart-city programs, workshops, dealerships, developers and hedge funds; nine automakers use the platform, with Daimler the only one publicly named. The company was founded in 2015 and is led by CEO and co-founder Ben Volkow. Otonomo emphasizes privacy and regulatory compliance, working with automakers, app makers and drivers' permissions to govern data use. The startup highlights the high margins of data sales and notes connectivity costs for OEMs (modem, carrier fees, storage). It plans to use new funding to accelerate global expansion. Otonomo operates a cloud-based technology platform that allows car manufacturers, drivers and commercial service providers to leverage a new ecosystem for advanced in-car services and applications. Commercial service providers and developers use the platform to develop, integrate and launch digital services and apps for cars. The company is led by CEO and co-founder Ben Volkow and has offices in Herzliya, Israel and Menlo Park, California. Otonomo said it will use new funding to expand business operations and continue to develop its technology. The company was hiring at the time of the report. No operating metrics were disclosed in the article.